Chainlink -price stabilizes a rebound as a technical and foundation.
Chainlink (link) traded on Monday at $ 18.80, an increase of 20% compared to the lowest level last week as the recent sale relaxed.
Link has several catalysts who can generate the price in the long term higher. It is the largest Oracle provider in the crypto industry and offers solutions for important decentralized financial players such as Aave and Compound.
Chainlink has also become an important player in the Real-World Assiva-Tokenization industry through its cross-chain interoperability protocol. CCIP is a safe interoperability network that makes token transfers and messages about multiple chains possible.
In addition, Chainlink has compiled partnerships with large financial service providers. It has a collaboration with Swift, a network that moves trillions of dollars every year, and other partnerships with companies such as UBS, Coinbase and Emirates NBD.
A new catalyst can soon push the price of Chainlink higher. Left balance at fairs have fallen in recent weeks, with 140 million link tokens that are currently being held at trade shows followed by Coinglass, against 150 million in December.
A falling exchange balance suggests that investors hold the token, which is a bullish indicator. It also indicates the increasing demand for the Senior services of Chainlink. More than 40.87 million link tokens are currently being deported, with a yield of 4.32%.
Chainlink -Price forecast
The daily graph shows that link in December at $ 31 peak before the soil last week at $ 16. This soil coincided with the 61.8% Fibonacci retracement level and the 200-day exponential advancing average, indicating strong support and hesitation from bears to short below this level.
The price of Chainlink has also formed a bullish flag pattern, a well -known continuation signal. It is now trying to break above the most important resistance level at $ 19.12, the highest swing in May last year.
That is why token is likely to be back and re -test the next major resistance level at $ 25.60, the retro level of 23.6%, which is approximately 35% above the current price.
